White House Responds To Release Of Trump's 2005 Federal Tax Returns
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WASHINGTON (CBSMiami) – The White House has responded to the release of President Donald Trump's 2005 federal tax returns.
In 2005, Trump paid $38 million or about 25.3 percent in taxes on an income of over $150 million, the White House said in a statement Tuesday night. The 2005 tax rate for top earners was 35 percent.
In addition, the White House said that Mr. Trump paid "tens of millions of dollars in other taxes such as sales and excise taxes and employment taxes."
The White House released the statement in advance of MSNBC's "The Rachel Maddow Show," which said that it obtained a portion of his 2005 tax return via journalist David Cay Johnston.
Anticipating the public release of the information from Mr. Trump's return, the White House also said in its statement, "You know you are desperate for ratings when you are willing to violate the law to push a story about two pages of tax returns from over a decade ago" and complained that "it is totally illegal to steal and publish tax returns."
Maddow tweeted that she has his 1040 form from 2005, which is the standard federal income tax form used to report an individual's gross income.
According to the pages of his 1040 form, he paid about $38 million, Maddow said and took a $103 million writedown. He also made more than $150 million, Maddow said on her show.
Johnston, the author of "The Making of Donald Trump, said that he received the documents in the mail.
This is not the first reporting on Mr. Trump's 2005 taxes, however. Almost exactly a year ago, the Wall Street Journal's Richard Rubin found public records that indicated that Mr. Trump was able to deduct $39 million from his 2005 federal income taxes by promising not to build houses on a New Jersey golf course he owns.
Mr. Trump has, to date, not released any of his tax returns. He has said he is under IRS audit.
